The URL can be used to link to this page

Home My WebLink About2157 ~ s _ ~ ~ i- 3 the defici~ncy. ~ucl~ puy•iuent stu?ll be ~uade ~itl~in thirt.v (3U) day~s ntter writtei~ notice troui tl~e ~iortgege~ ~ sta/iug tt~e nmount of tlie deficiency, which notice msy be ~iven b~~ u~ail. if at ~ny tinie the `iortg~gor ~ aha~l tender to tlie ~iort~,n?gee in scconiance w ith the pm~ ~ous ot the c?ute secured hereby, fuA p~ment ' oi the e~tire indebtednesa reprnaented tl~ereby, ttie ~iortgagce as truatee shall, in coniputing the amount oi such indebteduess, credit to the account ot the ~tort~a~or any etedit belencc+ ren?uining under tha pt~ovisioas : of (a) ot said per~raph 2.. Ii there ahuU be a deiuult under ~ny of the pro~•i3ions of thia.~nort~age resulti~g in a public sale ot ttie premises covered hereby, or it the ~lortgsgee ecquirea the property otherwise stt,et ~ default. the ~iortgagee as trustee at,all appl~, at~ the time oi the commence~nent o[ such proceedinga or ~t ~ the time the pmperty ia otherwise acquirc~cl, the an~ount thea remaining w credit oi \iortgegor uader (s) af para~rsph 2 preceding as s credit on the interesl accured and unpaid and the balaaca to the priacipal then remawmg unpaid on said notet 4. He wiII pyr aII ta~oes„ ~eeee~b. wste: tste~. ~?mi other ~overnmental or munldPal ah~r~es. Sne~. os impoeitions. for wbiek pco~rie3on 6as no~ been made bereiaMetore~ and ia default thereof tbe Mott;,~ee maJ? i~?Y ~ aame; ~nd tba! bs will prompLbr ddiver the o~oial reoetpte Lherefos tio tde Mortg~gee. b. He wlll permit, commit, or eu~er ao waete„ imp~irmeat, or deterioration ot eaid property otb~? par~ tihe~of aaooept reasoaabls wear and ta~r• and in tbe e~~ent of ths fi4ilure ot the Mortgagor to keep Lhe uiidinsp on sai~ ar p~mises and thase to bs erecte~ oa aatd preani~+es, or improvements t6ereon, in good repair the Mortgaaee m~y ~ m~ice wch npaira as in its disontion it may deem neoeee~sry for t6e proper preeerve?tion thereo~, and the full amount ' of eaeh and every suaL py?menL sball be due ~nd P~Y+~ ~Y ~ after demand, and s6a11 be secured by ' tbe tiea oE t6is? mort~ge. 6. 8e will p~y all a~i s~n6uLr the oosts. and ~panees. ineluding reaeonsbb Lwyer'~ fees, ~nd oosv ; of absts~cts of tttle, ineurred or paid st aqy time by~t Mort~ee ba;ause of t6e failure on the part ot the Mort~oe r P~'omP~3? aad iu1~ t~o petform tbe a~ree~n~ents and oovecsnts of asid promiesory note and thie mo~t~ge, and aaid pe f ~ai'6a, ~Pe~ ah~ll be immediatebr due and payabb and a6a11 be eecured by t6e liea of t~?is mort~e. 7. He will oontianom~ maintaia basard iasuranoe, oi such type or t~pes and amounta as Mortg~g~ee my ~ t~om tima to tin~s require, on the improvements now or hereattet on said pnmises and except when payment tor all such premiums ha~ theretoiors beea made under (a oi p~ragra~h 2 hereoi ~e will pay promp~y when due an~ premioms theretor. All insuraaoe shall be c~r~ ia comp~nus appmve~ b~ 11io t~s~~ and tfie pol~ ' cies and renewa~e thereoi shali be Leld by Mortgagee and hsve sttached thereto loes payable cTauses in iavor of ~ aad ia form aooeptable to Lhe M In event o!' loee he wiU give immediate notice by ma~1 to Mortgages, ~ and Mortgagee may make.prooi~ ii not macle promptlp by Mortgagor~ and each inauraace compaqy o~noerned ia hereby autLon:ed and direated to make payment for suc6loes directly to Mory~~ mstead oi ` to Mortgagor snd Mortgagee jointl,y, and the insurance prooeeds, or aqy part thereof m~y be ap.plied by hiort,• ~ ~ag~ee st ita option either to tbe reduction ot the indebtednees hereby eecured or to t~he reston4oa or repair oi Lhe pmperty damaged. Io event of foreclosure of thie mortgsge or other ~nsfer of title to the mortgaged ~ property in extingu~shment of the indebtedaees aecured Lereby, a~l right, title, and interest oi tLe Mortgagos ° in and to nqy msuranae policies tLen ia foroe aha11 paes to the pnrcha~ser or gr~ntee. ; 8. He will not ezecute or file of record any inatrument which imposes a restriction upoa the sale or occu- + psacy af the property described herein on the baais of race. oolor, or creed. 9. If the premisee~ or any part thereof~ be condemned under the powe.* of eminent domain, or acquired for a public use, the damages awarded~ the ptoceeda for the taking of~ or the conaideration for such soquisi- tion, to the extent ot the fi:ll amount of the remaining unpaid indebtedness aecured bp this mortgage, sre hereby asaigned to the viortgsgee, and hie heirs or assigna, and e~iall be~ paid forthwith to eaid Mor.tgagee or his assignee to be applied on account of the last maturing inatallmente of auch indebtness• provided~bow- _ erer, tLe Mortgagee or his assignee, msy at his discretion pay direct to the Mortgagor, his ~eirs or ssaigna any part or all of euch award; provided~ that ~f the loan is guaranteed or inaured, the consent of the guaran- tor or iaeurer ia obtained in advance of said payment. 10. The :4lortgagee may, st any time pending s suit upon this mortgage~ apply to the court having jurisdic- - tion thereof for the appointment ot s receiver, and such oourt aball fort6with sppoint a receiver of the premises covered hereby all and singular, includin~ all and singular the income. pmfita, issues, and revenues from ~rhst- ever source denved~ each and every of vr}uch it being eapressly understood, is hereby mortgaged as if specificallv eet forth and descnbed in the granting an~ hsbendum clauses hereof. Such sppomtment shall be made by ' such court as an, admitted equ~ty and s matter of absolute right to said ~iortgagee, and without reference to ~I the adequacy or inadequacy of the value of the property mortgeged or to the solvency or insolcency of said Mortgagor or the defendenta. Such rents, profita, income, isaues~ and revenues ahall be applied by such receiver according to the lien of chia mortgage and the prsct~ce of such oourt. In the event ot any default on thz part of the hiortgagor hereunder, the ~iortgagor ap~rees to pay to the ~for agee on demand aa a reaeonable monthly rental for the premises an amount at least equivalent to one-twelfth of theeggregate of the twelve monthly installmenta payable in the then current year plua the actusl amaunt of the annusl taxes, esaesaments, water rates, and insurance premiuma for auch year aot oo9ered by the atoreaaid monthly psymenta. 11. In the event of any breach of thia mortgag~e or default on the part of the viortgagor, or in t6e event that any of said aums of money herein referred to be not promptly and fully paid sccording to the tenor hereof~ or in the event thst each and every the stipul~?tiona, agreementa conditiune, aad oovenants of said note snd t6is mortgage . are not duly~ pmmptly, and tully performed or i~ the Mortgdgor be sdjudicated banl:rupt or made defendant in s bankruptcy or receaverehi~ proceedinp~; then in either or anq auch event, the said aggre- gste eum mentioned in said nots then rera unpaid, with interest accrued to thst time, and all money secured hereby ahall become due and payab~orthwith, or thereafter, at the option of said Diortgagee~ ea fully and comp~etely aa if all the_said aums of money were orig'?nally stipulsted to be paid oa such day~ an~- thing in said note or m this mort~sge to t,he contrar~? notwithstanding; and thereupon or theresf ter, at the option ~ of said ~iort~a~ee~ without not~ce or demi?nd, swt st law or in eqtuty~ mav be ptoe~cuted as if all moneva ~ secured hereby~nd mstured prior to ite institution. The Mort a~ee may f~reclose this mortgage~ as to t~e amount eo declared due and peysble, and the seid premieea shall~ sold to satisfy and pay the same tog~ether with coat8 expenaes, and sllowancea. In csse of partial foreclosure of this mortgage , tLe mort aged pmmises w' ehall be so~d aubject to the continuing liea of this mortgage for the amount of the debt not then ue end iinpaid. ~ Ia auch csae the pmvisions of t~hia paragraph may again be availed oi thereafter froin time to time by the . Mortgagee. ~ 12. No wsiver oi any covenent herein or of the obligatioa eecured hereby ahall at any time tlierestter be . ~ held to be s waiver of the terma hereof or oi the note secured hereby. 13. The lien of this inatrument shall remain in full force and eftect during any postponement or extension ~ of the time of payment of the indebtednesa or any part thereoi secured hereby. 14. This mortgage ia given to aecure the purchese money, or s part thereof~ of the lands herein described ~ aad is ea~ecuted and delivered contemporaneou9ly with the deed th~refor. ~ 15. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then ~ the Mortgagee mey perform the same~ and all expenditures (including reasonsble attorney's fees) made by t6e Mortgagee in su domg ahall drsw interest at the rate pmvided for in the principal indebtedness, and sliall be a repeya~ble thirty (30) dsys after demand~ and, together with interest and costs accrued thereon~ shall be secured ~ by thia mortgage. 16. Upon the request of tbe Mortgsgee tLe Mortgagor ahall eaecute and deliver s supplemental note or notea for t6e sum or suaia sdvanced by the Mortgegee ior the alteration. modernization, impmvement, main- ~ tenance, or repair of ssid premiaea, for taaces or aeeesaments against tbe same and for any other purpose author- ~ ~ ized hereunder. Said note or notes ahall be aecured herebs on s parity with snd sa fully as if tlie advance ~ p evidenced thereby were included in the note firagd~~i~i~ sbove. `~~upplemental note or notee ahall bear BQGK lvl PA~E . _ ~ ~ . ~ ~ , m . - - ~ _r ~ ,`iM~ ~ -